Construction Robots: Market Size. From $104. 43 million in 2020, the global Construction Robots market is projected to reach $414. 34 million by 2028. Based on our analysis the market is expected to grow at a CAGR of 18.
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Construction Robots Market Analysis & Trends - Industry Forecast to 2028" - https://www.reportlinker.com/p06127654/?utm_source=GNW
8 from 2020 - 2028 timeframe.
Some of the prominent trends that the market is witnessing include rapid adoption of 3D printing, technological advancements, and introduction of advanced robots.
Global Construction Robots Market: Market Dynamics
The increasing population undoubtedly drives the demand for construction equipment. The global trend of people migrating from rural to urban areas has increased this demand even more. Owing to the high urban population and high development in developing economies around the world, infrastructure the residential and commercial sectors are facing huge development. This is consequently driving the demand for construction robots market.
On the other hand, the requirement high capital to adopt modern technologies is hindering the growth of the market. In addition, the rise in automation at construction sites is expected to provide huge opportunities for construction robots. Increasing automation in construction has provided an efficient way to develop infrastructure all around the world.
Impact of COVID-19 on Construction Robots
The recent outbreak of COVID-19 has adversely affected the construction industry. Construction works witnessed a total standstill in the initial months of lockdown. However, the demand for 3D printing witnessed an increased demand owing to its potential to ensure safety. The COVID-19 pandemic is expected to have some negative effect on the market over the forecast period. Construction robots’ demand, however, might increase due to safety needs, such as social distancing.
Concrete Structural Erection Segment Dominate the Market in 2020
The use of construction robots has reduced the complexity of the operations in structural erections and is attracting most of the construction firms to adopt robots for this function. The robots designed for the concrete structural erection construct prefabricated concrete components or units that can directly be assembled on-site to form an entire building structure. Increased efficiency with enhanced safety is ensured by the use of robots for this function.
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific is likely to have a huge demand in the forecast period. The mining and construction industries are flourishing in various parts of the region. With growing urbanization and wide availability of natural resources throughout the region, the mining and construction companies have started using automated equipment, operating software, and communications system to connect and operate on-site. Also, the presence of a large number of robotic manufacturing companies in China and Japan and a high growth rate of the market for 3D printers for advanced construction, are driving the growth of the construction robot market in Asia Pacific.
List of the Key Players Profiled in the Market Include:
• Autonomous Solutions
• Ekso Bionics
• Fastbrick Robotics
• Construction Robotics
• Giant Hydraulic Tech
• TopTec Spezialmaschinen
• Alpine Sales and Rental
• Beijing Borui Intelligent Control Technology
• Yingchuang Building Technique Co. (WinSun)
List of the Regions/Countries Profiled in the Market Include:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
• Saudi Arabia
• Rest of Middle East
• Rest of Latin America
Rest of the World (RoW)
• South Africa
Read the full report: https://www.reportlinker.com/p06127654/?utm_source=GNW
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